HIST BC 3116y Lecture Notes - Lecture 15: Credit Theory Of Money
1 Nov 2016
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History of money lecture 15 (9 march 2016) Institutions coalescing around a system that looks more like modern capitalism. Land was becoming more apart of the economic market/system: not happening everywhere, frustrating to polite society (did not want to accept change, land is defined by private property, trade/market of all things. Incorporating land & nature into capitalism means society obtains a new meaning and money plays a new role. Early modern capitalism: cohered social, political economic unit. Mo(cid:374)ey (cid:374)ow (cid:373)easures all thi(cid:374)gs, (cid:373)o(cid:374)itors all thi(cid:374)gs, . Dutch flourished: engagement in commerce, economic institutions. Had a scarcity of money: prices did not adjust as it does now. Tons of enclosures leads to tons of people flooding the cities: poor people looking to offer their labor. Solutions: create work houses for the able-bodied poor: taught proper work ethic and religious view point. Solutions: effort to create a welfare apparatus.
